Forget $1 million, most comic books from past two decades have little value

Paul L. Newby II | The Grand Rapids PressRocky Kula, 42, shows off his Dick Tracy comic books dating back to 1938, valued at $1,000 or more at his Goldmine Comics, Cards & Collectibles store at 65 54th St. SW.My plan was not to write a column for this week. I had another idea: Make a pile of money selling old comics.
Except it turns out it's very hard to make a lot of money off comics, unless they are mint-condition books from the '50s, '40s or even earlier.

The idea hit me last week after a 1938 Action Comics No. 1, the first to feature Superman, sold for $1 million, breaking the million-dollar price threshold.

I remembered we had a small stack of my son's old comic books at home. I dug them out of the closet, tossed them into a bag and headed over to a store.

Rocky Kula at Goldmine Comics Cards & Collectibles at 54th Street and South Division Avenue flipped through the pile.

"What's the most valuable?" I asked, waiting breathlessly.

"This Flash," Kula said, picking up the 1991 No. 48 book with its brilliant red superhero on the cover. "But it's in poor condition, see the spine, it's all dented."

My scruffy 1991 Flash No. 48 got no offers last week.AP PhotoThe 1939 Detective Comics #27, with the first appearance of Batman, surpassed the Action Comics book, selling Thursday for a record $1,075,500.OK, it's not mint, but how much? Zero, he said.

Few comics from the past two decades have much value. If they do, we're talking a few bucks.

In fact, by 1992, Kula explained, the market was flooded with superhero comic books.

So what about the $1 million for the Action Comics book No. 1?

It is so rare, there may not even be another like it in the world, said Kirby Tardy, owner of Tardy's Collectors Corner, 2009 Eastern Ave. SE.

The book sold to an anonymous collector soon after it was put up on the auction Web site ComicConnect.com. With a cover featuring Superman lifting a car, it originally cost 10 cents and it had been kept in mint condition ever since.

"It's the Holy Grail of comic books," Stephen Fishler, co-owner of the auction site told reporters.

That record was shattered Thursday when a 1939 Detective Comics No. 27, in which Batman makes his debut, sold for $1,075,500.

Kula said people looking for investment-grade collectibles were more willing to bid up the Batman book after the Superman book broke the million-dollar ceiling.

Besides, some people just like the Dark Knight better. "I personally would rather have the first Batman book myself than Action Comics #1, money permitting," Kukla said.

Both books proven a good investment. The Superman book sold for $150,000 15 years before. The Batman book sold for $100 in the late 1960s.

Back at his Goldmine's shop, Kula broke the news to me. He didn't want any of my books, even the oldest, a 1986 Marvel Age No. 47.

Back at his Goldmine's shop, Kula broke the news to me. He didn't want any of my books, even the oldest, a 1986 Marvel Age No. 47.

If the Flash was in better condition, he might have paid $2 for it. "You might sell it at a garage sale for 25 cents," he said.

The X-Men comics? "X-Men was really popular when it first came out, but there was just too much supply," he said.

The 1989 Heathcliff No. 38? "In 2025, people might want it," he offered. "It might be a nostalgia thing, people reliving their childhood."

Most of his business these days is not with collectors, but loyal readers eager to pay $3.99 for the next monthly installment of Spiderman, The Hulk or Green Lantern.

The addiction is so strong Kula keeps "pull lists" for about 200 customers, for which he sets aside current issues so they are sure to get their copy.

The recession has put a damper on the industry. "There used to be 19 stores in Grand Rapids, we're down to about six or eight," Tardy said.

"The industry has its ups and down. Right now, it's a down economy and people are moving out state, so there's a steady drip from the customers base."

What helps compensate is eBay where Tardy and Kula sell comics to distant buyers.

The priciest of any comics date from the 1940s and '50s. "The bronze age, that's the 1980s to mid 90s," Kula said.

Last weekend, Tardy bought 2,500 books for $10,000 from a Sault Ste. Marie collector and he is putting a few books at a time on eBay.

Last summer he sold a Mighty Mouse comic from the '40s for $5,000. "It was in spectacular shape," he added

It's hard to say what the next hot collectible will be. "There is just no way to tell," Tardy said.

Still, he maintained , "comic books tend to be a pretty good investment if you time it correctly and buy and hold." So, what would he most like to see come in the door? A Superman No. 1 or most any comics from 1945-1965.

But there's one book he does not want: The Death of Superman.

"No one is going to retire on Death of Superman," he said.

"When it went on sale 17 years ago, everyone bought it and thought they had a gold mine."

Now, he said, "Everyone who wanted a copy has one."

Good thing I don't have one of those. But I still have this 1991 Flash No. 48. I'll give you a good deal.